Iraq's reserves of foreign currency $ 67 billion

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Iraq's reserves of foreign currency $ 67 billion

THE SIZE OF TEXT CHARACTERS Bara Afif10/01/2013

Increased reserves of the Central Bank of Iraq in hard currency to $ 67 billion, after it was 63 billion last year. This is the reserves are the largest in the history of Iraq. confirms adviser in the Ministry of Finance Hilal Taan in his pungent Free Iraq that these amounts are at the disposal of the Iraqi Central Bank to circulating in foreign investment without currency manipulation, otherwise the Iraqi dinar exchange rate may fall apart. Meanwhile denied Taan be the Central Bank of the U.S. no authority to act in this reserve and that what is at his disposal is $ 18 billion of Iraqi oil revenues, according to the provisions of Chapter VII of the UN Charter. Moreover explained financial expert Majid picture that increasing currency reserves Iraqi will increase confidence World Iraqi currency and enhance the status of the Iraqi economy among developing economies.currency reserves had risen the end of 2011 to 58 billion dollars at the end of 2012 rose to $ 60 billion.